All Forum Posts by: Sean Kelly

Thank you for all your responses! Don, sorry what I meant by the 1% rule was the ratio of rent to purchase price i.e. for $100000 rental property purchase price you would want to collect $1000 rent which I read was a basic but good rule of thumb when buying rental property. Hard to do in Chico as your sister probably has seen. Charlotte and the suburbs surrounding are one area we are looking at so would appreciate help in that area possibly down the road. Walnar and Dawn thank you we have also been looking at Raleigh and will keep you in mind as well. Elizabeth self managing properties all over the country doesn't sound easy. Do you mostly rent to fellow military members? David thank you for all the advice and we will definitely look into FHA loans. Mark thank you for the welcome and we feel fortunate to have BiggerPockets helping us get started!

Hello,

My wife and I have some money we are hoping to invest in single family and possibly duplexes for rental income.  We live in Chico CA and looking around this area there seems to be some deals but none coming close to achieving the 1%, much less the 2% rule and when we look out of state we are amazed how much more we can get for our money.  Right now we are debating possibly relocating to one of these areas to start purchasing property (or at least purchasing out of state and remaining in CA).   North Carolina is one potential area we are looking at.   So my question for the more experienced is if you were willing to move/invest out of state how would you go about figuring out what market you want to focus on buying in?  What resources would you use other than this great site!?